L2 Stacks War: Looks like it's over before it even started?

Author: NingNing, crypto analyst Source: X (Original Twitter) @0xNing0x

On this Sunday, the average gas fee on the Ethereum mainnet has dropped to single digits of 8.

At present, the gas fee of the Ethereum main network is mainly consumed by the stablecoin gateway contract, L2 sequencer, Uniswap V2 contract and OpenSea's Seaport contract.

The average gas fee dropped to 8, which means that on-chain activities, such as flushing dogs, Mint small pictures, cash flow, and L2 airdrops, have almost stagnated.

In addition, Connext launched a witch-hunting campaign, LayerZero cooperated with a third party to conduct user profiling, and the details of Starknet’s airdrop have also become confusing. Lu Mao Studio and Solo Wool Party, as the last samurai in the crypto world, also began to lie down collectively.

Although short-term speculation is common in the crypto world, this does not mean that the L2 Stacks War is over.

In fact, the game of Dapp application L2 and general L2 in specific fields developed based on L2 Stacks has just started.

Since the block space of the Ethereum mainnet will be filled with transactions even in a bear market, it is foreseeable that in the next bull market, the gas fee of the Ethereum mainnet will soar, which will make it only exist as the last settlement layer. .

Therefore, the relationship between the Ethereum main network and L2 is evolving towards the relationship between the central bank and commercial banks. The application will be undertaken by L2, while the security and final confirmation of the system will be monopolized by the Ethereum main network.

Faced with this structure, Dapp teams on the Ethereum mainnet have to choose between migrating to Alt L1, other L2s, or developing exclusive L2s. Most Dapp teams may choose to deploy their own L2.

This will help the development of native tokens (as L2 gas fee payment Token, Staking of sequencer nodes, etc.), and can also increase market valuation.

Currently, there are four major suppliers in the L2 Stacks market: OP Stack, Arbitrum Orbit, Polygon CDK, and Zk Stack.

OP Stack is far ahead in terms of freedom, openness, maturity and prosperity. It supports developers to deploy their own L2 without permission and supports customization of the entire stack, including data availability layer, L1<>L2 bridge, sequencer, Liquidation layer, VM and governance module, etc.

Arbitrum Orbit is not very friendly to developers, and its data availability layer is limited to Arbitrum One, and commercial use needs to be approved by the Arbitrum Foundation or DAO. The Arbitrum team defines Arbitrum Orbit as L3 of Arbitrum One.

Polygon CDK is an evolved version of Polygon Supernet, which supports developers to customize the data available layer and sequencer, but it must use the common Zk circuit, ZkEVM and L1<>L2 bridge, and must open source the code.

Zk Stack is an upgraded version of ZkSync HyperChain, which represents the ZkRollup camp. It has some similarities with Polygon CDK in terms of stacking, but its ZKP proof is a hierarchical aggregation structure. Commercial use requires permission.

Currently, long-term demand parties in the L2 Stacks market include Celo, which focuses on green finance, Immutable chain, WorldCoin, a UBI project focusing on inclusive finance, etc.

Among these long-term demand parties, the most people choose to adopt the OP Stack solution, followed by the Polygon CDK solution, while zero adopt the Zk Stack and Arbitrum Orbit solutions.

However, the L2 Stacks War has just begun, and the final winner has not yet been determined. We hope that L2 Stacks, which adheres to the spirit of openness, transparency, and permissionless encryption, will have the last laugh.